Roger W Ferguson Jr Appointed Chairman of the Committee on the Global Financial System

At their meeting in Basel this month, the Governors of the central banks of the Group of Ten countries appointed Roger W Ferguson Jr as Chairman of the Committee on the Global Financial System (CGFS). Ferguson is Vice Chairman of the Board of Governors of the Federal Reserve System. The appointment is for a term of three years starting on 11 March 2003. Ferguson succeeds Yutaka Yamaguchi, Deputy Governor of the Bank of Japan, as CGFS Chairman. The CGFS is a central bank forum for monitoring and examining broad issues relating to financial markets and systems with a view to elaborating policy recommendations to support the central banks in the fulfilment of their responsibilities for monetary and financial stability.

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